Cergy, 14 January 2015 - SPIE has successfully completed arrangements for the refinancing of its debt.
In a favourable market environment, this refinancing which included a new senior credit facility (€625 million at Euribor +4.25%, repayable in fine in August 2019) was a great success among investors, thanks to the Group’s recognised credit standing. This new funding and the raising of an additional €186 million second lien facility at Euribor +7.75% with a floor of 1%, repayable in fine in January 2022, enabled the early repayment of the €375 million bond with a 2019 maturity date bearing interest at 11% along with the sum of €430.5 million corresponding to 72% of the shareholder loan (with capitalised interest of 8%) which reduced the cost of the debt. Furthermore, SPIE is increasing its financial flexibility with the setting up of a new €100 million loan facility with a maturity date of August 2018 for the purpose of financing acquisitions.
SPIE is therefore well placed to consolidate its position as independent European leader in multitechnical services and to push ahead with its European development strategy.
Contacts
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SPIE
Pascal Omnès Group Communications Director Phone : + 33 (0)1 34 41 81 11 E-mail : pascal.omnes@spie.com -
Thomas Guillois
Investor Relations Director Phone : +33 (0)1 34 41 80 72 E-mail : thomas.guillois@spie.com -
Brunswick
Agnès Catineau Phone : + 33 (0)1 53 96 83 84 E-mail : acatineau@brunswickgroup.com